“A growth hacker is a person whose true north is growth.” – says Sean Ellis, the growth hacking guru.
Growth hacking is the revolutionary element in the world of startups, entrepreneurship and marketing which has changed the fate of millions of startups and business ventures providing a sudden, long-lasting boost in terms of their progression and changed the dynamics of their customer bases for good.
Remember that, a growth hacker is differentiates from a traditional marketer in ways such as adopting various roles as of an engineer that has the potential to grow a business, an advertiser who engages the customers and a product manager who brands the products for the long-term gliding of the business plane through effective airborne push right in the start. Here are 5 growth hacking tips that you must consider for your business’s success and thank me later
- Your product must be perfect
The only way to grow your business is to have more people use or talk about your products and services and that can only happen when you whole-heartedly meet up with the needs and preferences of your targeted market/audience. A product-market fit must be your first and foremost priority as a growth hacker whilst having a strong analysis of your competitive-market research. If you are able to fight off that competition, it will work as a catalyst for the growth of your business.
To make your product perfect, go out on the ground and be receptive of your customer’s feedback. Let them criticise, object and compare your product with your competitors – you instead, must be an active listener with an intention to improve your product.
- Set actionable goals
A growth hacker’s only focus is growth. As Neil Patel says, “the power of a growth hacker is in his obsessive focus on a singular goal. By ignoring almost everything, he can achieve the one task that matters most early on.”
Hence, it is extremely important for your business that you set precise and focused goals, that will help you achieve growth with maximum time investment and through effective approach refinement. Make sure your goals are practical, actionable and realistic. Keep a log of your day-to-day progress.
- Invest in your team
Investing in your startup requires you to have the right skills and expertise on -board to make it work in the longer run. Most startups, overlook the idea of hiring a team with sharpened skills and actual, practical knowledge of their areas of interest – however, with those skills, you can hit a dynamic customer base filling your cup of advantages not just internally, but outside as a growth hack. Investing in a good team today will bring you a long-lasting outcome tomorrow.
Having inexperienced, enthusiastic employees will require an internal effort to first, train them and make them capable of the work that is required from them, and testing whether they would be fruitful or not. As a growth hacker, you are not here to test, you have to perform and raise the competitive bar with tangible results.
- Leverage social media as a go-to strategy
Social media is the perfect platform for start-ups to get in progress with their marketing campaign especially for targeting millennials as they are the largest consumer demographics and are available readily on social media. The best way to leverage social media for your small businesses and startups is to join relevant groups and build up a network for rapport-building among your targeted customers.
With that, you will be able to analyse the needs and wants of your target markets. Make sure, once you have your own representation on social media through a page or a group, you engage your audience and target customers to help build a community for your business that would stay loyal to you for long-term.
- Keep a track of your progress
When you have just started climbing the stairs of growth, it is very important to keep a track of your foot-steps. One of the ways to measure your effort is through effectively monitoring sales channel, future predictability of revenue streams and the consumer engagements through marketing campaigns. Through this tracking procedure, you would be able to make better decisions for yourself in the future and having a data-driven approach will help you create sustainable and measurable outcomes.
Taking the first step of launching a start-up is daunting but beyond that it is an effort, which can be surrounded by risks and failures, but leveraging the available opportunities whole-heartedly will help your business grow in the long-run.